Author Topic: New To Investing Thread  (Read 327393 times)

0 Members and 3 Guests are viewing this topic.

Offline catastrophe

  • Pak'r Élitaire
  • ****
  • Posts: 15107
    • View Profile
Re: New To Investing Thread
« Reply #1675 on: June 26, 2017, 11:13:18 PM »
WARNING: NON BIT CURRENCY POST

So my company is now allowing up to $54k in after-tax contributions to 401(k)s.  As far as I can tell, these after-tax contributions are treated almost exactly like any other after-tax investment you would make, except any dividends or other gains are tax-deferred.  Seems like a no-brainer to max out this kind of an account before using any other investment accounts unless you plan on being in a higher tax bracket when you start cashing out, which seems counter-intuitive.

be careful about mixing pretax and after tax money in the same tax deferred account.  you can get mumped a little that way.  the conversion to a roth is a great loophole though.

I don't really have a choice since it's a 401(k) that my work provides. It seems pretty idiot proof in its current configuration.

Offline sys

  • Contributor
  • Pak'r Élitaire
  • *****
  • Posts: 40475
  • your reputation will never recover, nor should it.
    • View Profile
Re: New To Investing Thread
« Reply #1676 on: June 26, 2017, 11:20:47 PM »
i'd check into it.  not sure how the roth rollover would work, but i think you can't like take out your chunk of aftertax money and not affect your pretax money.  like whatever money comes out is x% aftertax and y% pretax.  but maybe they have something different for the rollover.
"experienced commanders will simply be smeared and will actually go to the meat."

Offline yoga-like_abana

  • Pak'r Élitaire
  • ****
  • Posts: 13189
  • Don't @ me boy, cause I ain't said crap
    • View Profile
Re: New To Investing Thread
« Reply #1677 on: June 27, 2017, 09:17:52 AM »
I got my ETH back   :Woohoo:  ....lesson learned, know the wallet you are sending

That's good news! :thumbs:
at what point price should I buy eth? I was thinking the $225 mark or you can just pm from now on so we don't get everyones panties in a wad

Offline Phil Titola

  • Pak'r Élitaire
  • ****
  • Posts: 15255
  • He took it out!
    • View Profile
Re: New To Investing Thread
« Reply #1678 on: June 27, 2017, 09:20:25 AM »
I bought at 229

The Big Train

  • Guest
Re: New To Investing Thread
« Reply #1679 on: June 27, 2017, 09:22:21 AM »
I got my ETH back   :Woohoo:  ....lesson learned, know the wallet you are sending

That's good news! :thumbs:
at what point price should I buy eth? I was thinking the $225 mark or you can just pm from now on so we don't get everyones panties in a wad

I think this correction is going to keep going, so I would wait.  That flash crash last week, the clogged Ethereum network, and all this profit taking are going to drive the price down even more. 

The top 20 cryptic have all taken pretty significant losses the past few days.  They shouldn't but they all mirror the Bitcoin market and it drives me nuts.

Offline Phil Titola

  • Pak'r Élitaire
  • ****
  • Posts: 15255
  • He took it out!
    • View Profile
Re: New To Investing Thread
« Reply #1680 on: June 27, 2017, 09:35:29 AM »
I think I'm jumping on more if it gets to 150.  tBT?

The Big Train

  • Guest
Re: New To Investing Thread
« Reply #1681 on: June 27, 2017, 09:51:09 AM »
I would probably buy back in at that point.  Some of the more pro-ETH people thought it would overtake Bitcoin as soon as this year, I never thought that.  There were a few new products built on top of the Ethereum network last week and everyone was super happy.  Then it clogged the network and put a lot of doubt that it could scale as more and more apps are built on it.

The flash crash further put more doubt because a single person with a multi million dollar sell order affected the market that much.  Those two things weren't really on anyone's radar until they happened and it's caused a massive ripple(no pun intended) effect across the whole cryptoworld.

Offline catastrophe

  • Pak'r Élitaire
  • ****
  • Posts: 15107
    • View Profile
Re: New To Investing Thread
« Reply #1682 on: June 27, 2017, 02:12:52 PM »
i'd check into it.  not sure how the roth rollover would work, but i think you can't like take out your chunk of aftertax money and not affect your pretax money.  like whatever money comes out is x% aftertax and y% pretax.  but maybe they have something different for the rollover.

I think it's all segregated for tax purposes. From the brief research I've done online, it looks like when you switch jobs your pre-tax dollars can get rolled into a traditional IRA (or maybe another 401(k)?) while your aftertax money goes in a Roth IRA.

I only recently found out about this at all, but this year I did not contribute any aftertax dollars until I maxed my pretax ones. Not sure whether you are even able to contribute both simultaneously under our plan.

The Big Train

  • Guest
Re: New To Investing Thread
« Reply #1683 on: June 27, 2017, 06:57:16 PM »
I would probably buy back in at that point.  Some of the more pro-ETH people thought it would overtake Bitcoin as soon as this year, I never thought that.  There were a few new products built on top of the Ethereum network last week and everyone was super happy.  Then it clogged the network and put a lot of doubt that it could scale as more and more apps are built on it.

The flash crash further put more doubt because a single person with a multi million dollar sell order affected the market that much.  Those two things weren't really on anyone's radar until they happened and it's caused a massive ripple(no pun intended) effect across the whole cryptoworld.

Maybe I should PI the cryptoworld more often!  :excited:

The Big Train

  • Guest
Re: New To Investing Thread
« Reply #1684 on: June 27, 2017, 10:25:55 PM »
The market so undervalues LiteCoin right now it's absolutely ridiculous.  It has already activated SegWit, multiple companies(https://trezor.io as a big example) have built on it.  I get the "silver to Bitcoins gold", but the percentages are completely off right now.

Lightning network is coming, its already been tested and proven on the LiteCoin network(https://mobile.twitter.com/Snyke/status/862419970990501890)

Again, I'm speculating(@wetwillie) but man, it's just the cusp of a global market that is completely untapped.

Offline puniraptor

  • Tastemaker
  • Pak'r Élitaire
  • ****
  • Posts: 21335
  • nostalgic reason
    • View Profile
Re: New To Investing Thread
« Reply #1685 on: June 27, 2017, 10:34:37 PM »
everything that can possibly be said or done with normie money has already been covered.

keep partying on with the new age wackybucks.

make sure I get notified when a brand new cryptocurrency is launched so I can get in on the ground floor, all these other ones are stale

The Big Train

  • Guest
Re: New To Investing Thread
« Reply #1686 on: June 27, 2017, 10:39:24 PM »
everything that can possibly be said or done with normie money has already been covered.

keep partying on with the new age wackybucks.

make sure I get notified when a brand new cryptocurrency is launched so I can get in on the ground floor, all these other ones are stale

You want to create a PuniCrypto?  I can show you how!

Offline Phil Titola

  • Pak'r Élitaire
  • ****
  • Posts: 15255
  • He took it out!
    • View Profile
Re: New To Investing Thread
« Reply #1687 on: June 27, 2017, 10:40:01 PM »
In for more Lite tonight.  Waiting for ETH to grow tomorrow before exchanging it for XRP.

Offline yoga-like_abana

  • Pak'r Élitaire
  • ****
  • Posts: 13189
  • Don't @ me boy, cause I ain't said crap
    • View Profile
Re: New To Investing Thread
« Reply #1688 on: June 28, 2017, 09:18:00 AM »
I didn't buy at $225 like I should've  :bawl:

The Big Train

  • Guest
Re: New To Investing Thread
« Reply #1689 on: June 28, 2017, 09:43:09 AM »
I didn't buy at $225 like I should've  :bawl:

:frown:

I'm not sure anyone saw this coming after the last couple of days :sdeek:



The Big Train

  • Guest
Re: New To Investing Thread
« Reply #1691 on: June 28, 2017, 10:59:28 PM »
Massive gains in the last 36 hours after the crap show of a decline the two days previous.  I've seen that double bottom trend before in the cryptos but I'm still "new" to recognizing when to take advantage.  Loving this market tho, it's so much fun you guys!

https://bitcoinmagazine.com/articles/bitcoin-price-analysis-double-bottom-reversal-chases-out-bears/

Offline Phil Titola

  • Pak'r Élitaire
  • ****
  • Posts: 15255
  • He took it out!
    • View Profile
Re: New To Investing Thread
« Reply #1692 on: June 29, 2017, 08:08:41 AM »
Double bottom girls, you make the rockin world go round!

Offline Phil Titola

  • Pak'r Élitaire
  • ****
  • Posts: 15255
  • He took it out!
    • View Profile
Re: New To Investing Thread
« Reply #1693 on: June 29, 2017, 09:00:38 PM »
TBT what kind of wallet sitch you got going on....I'm starting to amass some funds that I'm not sure I trust sitting on these platforms.  Not :kstategrad: worth but trying to plan for the future.

Got in on XRP....I think that's got legs based on what market they are going after and who they have signed on already.

The Big Train

  • Guest
Re: New To Investing Thread
« Reply #1694 on: June 29, 2017, 10:22:42 PM »
TBT what kind of wallet sitch you got going on....I'm starting to amass some funds that I'm not sure I trust sitting on these platforms.  Not :kstategrad: worth but trying to plan for the future.

Got in on XRP....I think that's got legs based on what market they are going after and who they have signed on already.

I only use CoinBase so the following is for that.  Whenever I sell I usually transfer my initial stake for that set of buys back to my bank account.  I'll also transfer back 60% of the profit I made on the sell.

The other 40% I just keep in my USD wallet for future buys.  If my USD wallet gets larger or if I am moving funds around I'll move more of that back to my bank. 

I hardly ever use my bank directly because it takes for rough ridin' ever to get it through compared to a CC or the USD wallet.  I also like the mindset that I am only spending my CC limit or what's in that USD wallet.

I honestly don't feel worried at all leaving a decent amount of money on there because of their insurance and the fact that 98% of customer funds are stored offline(which is part of the reason it takes days to get your money back to your bank).

I've been doing this for quite a while now tho and find this is a pretty good method for me.  To each their own tho on how they want to manage it.

The Big Train

  • Guest
Re: New To Investing Thread
« Reply #1695 on: June 29, 2017, 10:43:23 PM »
I didn't buy at $225 like I should've  :bawl:

Hey, bud, watch the markets again. :Lurk:

Offline Phil Titola

  • Pak'r Élitaire
  • ****
  • Posts: 15255
  • He took it out!
    • View Profile
Re: New To Investing Thread
« Reply #1696 on: June 30, 2017, 07:53:59 AM »
TBT what kind of wallet sitch you got going on....I'm starting to amass some funds that I'm not sure I trust sitting on these platforms.  Not :kstategrad: worth but trying to plan for the future.

Got in on XRP....I think that's got legs based on what market they are going after and who they have signed on already.

I only use CoinBase so the following is for that.  Whenever I sell I usually transfer my initial stake for that set of buys back to my bank account.  I'll also transfer back 60% of the profit I made on the sell.

The other 40% I just keep in my USD wallet for future buys.  If my USD wallet gets larger or if I am moving funds around I'll move more of that back to my bank. 

I hardly ever use my bank directly because it takes for rough ridin' ever to get it through compared to a CC or the USD wallet.  I also like the mindset that I am only spending my CC limit or what's in that USD wallet.

I honestly don't feel worried at all leaving a decent amount of money on there because of their insurance and the fact that 98% of customer funds are stored offline(which is part of the reason it takes days to get your money back to your bank).

I've been doing this for quite a while now tho and find this is a pretty good method for me.  To each their own tho on how they want to manage it.
Okay...been reading about all these off line hardware wallets and wondered if I should go that route. In all in coinbase as well except my XRP is in poloniex.

The Big Train

  • Guest
Re: New To Investing Thread
« Reply #1697 on: June 30, 2017, 08:02:09 AM »
TBT what kind of wallet sitch you got going on....I'm starting to amass some funds that I'm not sure I trust sitting on these platforms.  Not :kstategrad: worth but trying to plan for the future.

Got in on XRP....I think that's got legs based on what market they are going after and who they have signed on already.

I only use CoinBase so the following is for that.  Whenever I sell I usually transfer my initial stake for that set of buys back to my bank account.  I'll also transfer back 60% of the profit I made on the sell.

The other 40% I just keep in my USD wallet for future buys.  If my USD wallet gets larger or if I am moving funds around I'll move more of that back to my bank. 

I hardly ever use my bank directly because it takes for rough ridin' ever to get it through compared to a CC or the USD wallet.  I also like the mindset that I am only spending my CC limit or what's in that USD wallet.

I honestly don't feel worried at all leaving a decent amount of money on there because of their insurance and the fact that 98% of customer funds are stored offline(which is part of the reason it takes days to get your money back to your bank).

I've been doing this for quite a while now tho and find this is a pretty good method for me.  To each their own tho on how they want to manage it.
Okay...been reading about all these off line hardware wallets and wondered if I should go that route. In all in coinbase as well except my XRP is in poloniex.

Yeah I've never used them.  The Trezor one I posted a few days ago is good.  I'm already paying CoinBase fees on transactions so I'd rather just do it as a service.

Offline yoga-like_abana

  • Pak'r Élitaire
  • ****
  • Posts: 13189
  • Don't @ me boy, cause I ain't said crap
    • View Profile
Re: New To Investing Thread
« Reply #1698 on: June 30, 2017, 09:12:08 AM »
I didn't buy at $225 like I should've  :bawl:

Hey, bud, watch the markets again. :Lurk:
I'm hoping it takes another nosedive!

The Big Train

  • Guest
Re: New To Investing Thread
« Reply #1699 on: June 30, 2017, 09:48:19 PM »
Getting to be buying time again guys.  So since it is that time I thought I would share a little more about my strategy.  Since we all like making money.

First thing is don't EVER buy on an incremental USD amount, ALWAYS buy a incremental crypto amount.  It's way easier to keep track of since the crypto amount will never change.  I keep a record of how many cryptos I buy and how much it cost, including fees. 

Second thing is I said last night about when I sell how much profit I keep and how much I leave for more investing.  I don't take losses, at least with this being such a new market I haven't.  If you aren't willing to lose everything you invest in a market like this you shouldn't be investing it.  Cryptos are inflation proof.  You will always have the same amount that you buy, it will fluctuate based on the exchange rate but the amount you have won't ever change.  That's one of the great things about cryptos, they always have a finite number.

You CAN day trade cryptos, like I will after I buy some at this lower price and only sell that amount when it goes back up.  The buys I had in the 40's I won't ever sell until I had made profit and am comfortable selling them.  If you read enough you will see people talking about "buying the dips", this is what they are talking about.

Lastly this is a risky market, I don't disagree.  However if you follow all these principles you won't ever lose in this cryptogame.